Response to People’s Policy Project on Alaska’s Oil Fund (Parody)

[This is a Guest Post from the Neoclassical Marxism Think Tank]

I apologize for the lateness of this post. I would have finished it sooner, but since taking my kids out of school to learn directly from market experiences, I’ve had to figure out ways to get them to leave me alone. This is a response to the People’s Policy Project on Alaska’s bold cuts to their public university system.

There was a time, probably hundreds of years ago, when public education was important. Before income became automated with the invention of passive income, humans had to be augmented with different kinds of knowledge in order to earn money and become truly free. Today, the average worker is far less productive than the average index fund in real terms. And by real terms, I mean dollars. In our technologically advanced society, the income of an “educated citizen” is equal to the income of an adult who receives the same amount in the form of an oil dividend.

From a material point of view, “public schools” are little more than unemployment insurance with a homework requirement.

So it’s a breath of fresh air to see that the brave government of Alaska, following Marx, cut the state’s public university budget by 40% to pay for their oil-powered Sovereign Wealth Fund. Alaskans have been liberated from workfare at a rate of $3,000/year. But the real benefits can’t be so easily measured. Beyond just $3,000/year, Alaska’s former students have gained something truly invaluable. Approximately $2,400 per year of extra consumption, by my intern’s calculations.

But as usual, some Leftists care more about gate-keeping their cushy think tank positions and virtue-signalling to tenured professors than actually winning. In a disgusting attempt to prop up the Workfare Industrial Complex, some “comrades” at the People’s Policy Project are saying that Alaska can close the university-sized hole in its budget with a move as simple as eliminating the $1.2 billion in deductible tax credits that will be lost to oil companies this year.

This is of course a ridiculous lie. Every oil fund thinker I know says dividend amounts will go down if they don’t get their tax credits. The idea that we can separate public spending from oil revenue when they’re sourced from the same place is a dangerous political fantasy.

And the truth is, Matt Bruenig knows better. I expect he’ll tell me as much when we meet this September to record podcasts in my wife’s spare room while our kids homeschool themselves. Matt knows that the yield for public education is low compared to other investment strategies the state could pursue with those tax revenues. He knows he is misleading citizen-shareholders across Alaska, but he doesn’t care. It’s worth it for him to keep Neoclassical Marxism from eating into his market share.

This is a plea for solidarity from leftists who share my dream of turning all public services into passive income streams. These flirtations with workfare are pure opportunism, and the average think tank reader is disgusted by them. Instead, we should be speaking the language of universalism. It doesn’t matter if a child is smart or dumb, productive or an objective waste of space. They shouldn’t be forced into a “school” to “learn things”. They should be at home, shopping online. Universalism means recognizing that all social problems can be solved with cash.

That’s what separates Socialists from other think tanks.

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